List of Figures, Tables, and Boxes
Abbreviations
Preface
PART I: The Setting
1 A New Global Economic Order?
2 Why Global Economic Leadership Matters
PART II: The Superpowers
3 China’s Capabilities
4 China’s Aspirations
5 America’s Capabilities
6 America’s Will to Lead
PART III: The Systemic Alternatives
7 The Leadership Vacuum: A G-0 World?
8 G-1 Chinese Economic Pre-Eminence
9 Effective Co-Leadership: A US-China G-2
10 Toward Conditional Competitive Cooperation
References
Notes
C. Fred Bergsten is Nonresident Senior Fellow and Director Emeritus at the Peterson Institute for International Economics, of which he was Founding Director from its creation in 1981 through 2012. He was economic deputy to Dr. Henry Kissinger at the National Security Council, Assistant Secretary of the US Treasury for International Affairs, Chairman of APEC’s Eminent Persons Group and of the Competitiveness Policy Council chartered by the US Congress, and a member of the President’s Advisory Committee for Trade Policy and Negotiations for 10 years. Bergsten was the most widely quoted think-tank economist in the world and was called "one of the ten people who can change your life" by USA Today. He is the author, coauthor, or editor of 46 books.
“Bergsten makes an urgent case for US–China cooperation: work
together to stabilize the world economy or risk a disaster on par
with the Great Depression of the 1930s.”
The New York Review of Books
“No matter where you sit on the China-engagement spectrum, you will
find Bergsten’s intelligent arguments of merit and practical use;
whether you find yourself nodding in agreement and glad to be armed
with such persuasive points, or furrowing your brow while
attempting to formulate sound rebuttals, you’ll come away with a
more informed and nuanced view of options for the China–U.S.
economic relationship.”
Bookish Asia
“Americans may be uncomfortable with the lurch toward
self-fulfilling Cold War thinking on China. But discomfort is not a
plan. C. Fred Bergsten’s seminal new book draws on his five decades
of experience as a leading global economic thinker and doer to
outline the most compelling alternative in the economic sphere yet
put forward.”
Lawrence H. Summers, former Secretary of the Treasury and President
Emeritus of Harvard University “Escalating tensions between the
world’s two largest economies have fueled concerns of a repeat of
the 1930s disaster. Esteemed economist C. Fred Bergsten analyzes
what’s at stake and brilliantly outlines policy options to avoid
these risks. A must-read for all of us, and particularly those in
government today.”
Carla A. Hills, Chair & CEO, Hills & Company International
Consultants “An outstanding work … If the US and China ever find a
way out of their current conflict, the balanced analysis and policy
recommendations in this book will have played a fundamental
role.”
Barry Naughton, University of California, San Diego “No one is
better suited than Fred Bergsten to undertake this critical study
of US-China economic competition. It will be the defining challenge
of the 21st-century for both nations, and the prescriptions he lays
down are well-suited to avoid a trade war neither side can
win.”
James Stavridis, Admiral, US Navy (retired), former Supreme Allied
Commander of NATO, and Vice Chair of The Carlyle Group “Fred
Bergsten is one of the world’s foremost experts on the global
economy. His exceptional book offers a 21st Century complement to
Charles Kindleberger’s classic about international leadership and
economic orders. Bergsten explains why the global economic system
depends on an accommodation between the United States and China. He
challenges the new Cold War thesis of condemning and containing
China. Instead, he offers a work plan of cooperation and
competition, conditioned upon reciprocity.”
Robert B. Zoellick, Former President of the World Bank, US Trade
Representative, and Deputy Secretary of State, and author of
America in the World “In this stimulating book, Fred Bergsten
ponders the challenge for global economic leadership being waged by
the U.S. and China now and in the coming decades. It is a
powerful work, drawing on deep experience and insider
knowledge.”
David Bachman, University of Washington “In his masterful opus,
Fred Bergsten, a pioneer in the study of international
economic policy coordination, explores the modus vivendi of the
United States and China in the age of global leadership
vacuum. He argues that liberal internationalism still serves
the enlightened self-interest for both countries, as well as
for the rest of the world. His vision is solidly
anchored with geopolitical realism and pragmatic idealism.”
Yoichi Funabashi “Fred Bergsten, an experienced and influential
economic policymaker, warns against a new Cold War between the US
and China, and offers positive suggestions for managing a
competitive cooperation.”
Joseph Nye, Distinguished Service Professor at Harvard Kennedy
School of Government and author of Do Morals Matter? Presidents and
Foreign Policy from FDR to Trump
"Impressive book[…]."
The Critic
''Bergsten’s book is important for its breadth of perspective and
depth of knowledge.''
Vivek Arora, Finance & Development
“cogent and comprehensive”
Andrew Peaple, The Society of Professional Economists
“Bergsten makes a compelling case that the risks associated with a
leaderless global economy, or worse, one where China and the United
States are at each other’s throats, should get the two governments
to pursue his agenda.”
Foreign Affairs
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